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If you can get their cash and keep them out of the boardroom and ANY OTHER ISSUE having to do with the management and/or strategy of the company, then take the money. Otherwise...run away. Mr. Taylor, we always wondered who you were representing when you were at Wilson Sonsini..Now we know it wasn't your client, Covad, but one of their key investors who helped take the company into bankruptcy--Warburg--but not after getting their money out first!

Posted by
tappingtheboards
on 2007-10-06

PUBLIC:

These guys need to write a big check and so do a lot of homework before they decide to talk to you. They can get terms sheets to you pretty quickly based on their adjudication of the company but insist on exclusivity and you covering diligence expenditure.